European stocks rebounded after experiencing their worst weekly decline in three months. The buy-side spending on equity trading and research has reached its lowest level in a decade. Saudi Arabia's wealth fund has joined the emerging market rush to tap into the bond market.
The value of video site Rumble has increased by $400 million following a deal with Barstool. Gas station owner Sunoco is set to acquire NuStar Energy for $7.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EM Asia Stocks Set to See Biggest Weekly Outflows Since 2022EM Asia stocks are expected to see the biggest weekly outflows since 2022. Economists say the ECB will choose the right moment for its first rate cut. The governor of the Reserve Bank of India says rate cuts are not being discussed yet. The Philippines is working on retail debt as $12.5 billion falls due. Key African economies will hold off from rate cuts until the second half of 2024. Malaysia's economy expanded 3.4% in the last quarter, missing estimates. China wants real-time surveillance on government-funded projects. Bitcoin retreats to a one-month low as enthusiasm for ETFs wanes. New World and Abu Dhabi Investment Authority are seeking to refinance $1 billion.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
S&P 500 Calls for 2024 Reflect Limited Increase for StocksMany strategists' S&P 500 calls for 2024 already reflect a limited increase for stocks next year. The median target among the 20 Wall Street strategists tracked by Bloomberg shows the benchmark index finishing 2024 at 4,850, less than 2% higher than where the benchmark closed 2023. Strategists at Goldman Sachs already boosted their 2024 target to reflect the recent run-up in stocks and the shift to a more dovish Fed., with year-end targets of 5,200 for the S&P 500, reflecting about 9% upside from the 2023 close. Meanwhile, the lowest call on the Street for 2024 isthat the S&P will sink to 4,200, which would mark a 12% decline for the benchmark index in 2024.Those that either see the economy not entering a recession at all, or believe that outcome has been talked about so much it won't entail much impact for stocks, predict the S&P 500 hits at least 5,000 in 2024. That camp includes firms like Oppenheimer, Fundstrat, Goldman Sachs, Deutsche Bank, and Bank of America. and causes mass hysteria over it
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stocks Largely Unchanged Amid Shortened Trading WeekStocks were largely unchanged on Wednesday amid a shortened week of trading and few major catalysts to drive market action. The S&P 500 neared an all-time high record close of 4,796 on Wednesday. The benchmark average and the tech-heavy Nasdaq Composite were barely in positive territory. Meanwhile, the Dow Jones Industrial Average (DJIA) closed slightly lower. For the year, all three major averages are up double digits. The S&P 500 has risen more than 24% while the Dow Jones is up over 13%. The Nasdaq has led gains, adding about 44% thus far this year. As of Wednesday afternoon, the S&P 500 is headed for its ninth straight week of increases, which would mark its best run since 2004. The major average has gained nearly 13% since Nov. 1. The surge higher in stocks over the past two months has come as investors have increased bets that the Federal Reserve will cut interest rates in March and inflation falls closer to the central bank's 2% target with few signs that the US economy is set for a full-on slowdown.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Tough Year for Banks, Dubai Property Market Bracing for SlowdownA summary of the latest news in the banking industry, Dubai's property market, iron ore prices, Xiaomi's electric vehicle launch, European stocks, Reliance's AI transformation, Israeli startup funding, Turkish lira and bonds, Russia's tank production, global ESG debt market, London-based oil trader Mandara, and the microplastics problem caused by glitter.
Source: BNNBloomberg - 🏆 83. / 50 Read more »